1795 H10C MS67 Prooflike NGC. V-5, LM-8, R.3. Although not
fully struck, this example is much sharper than most that we have
seen. Only one or two others that have been seen in recent years
are similar to this example for overall strike and quality. The
obverse is sharply detailed with only a slight merging of the two
lowest hair strands. All other design features, and especially
those at the center, are boldly detailed. The reverse is equally
bold, again with only a slight merging of the detail where the wing
intersects the left branch, below T of UNITED. Due to the rotated
reverse die, this point on the reverse is exactly opposite the
slightly weak hair detail on the obverse. All other detail on the
reverse is boldly defined, including the eagle's breast feathers
which are almost never found with any definition. The obverse is
cracked from the border to the digit 7, on to Liberty's neck and
cheek, exiting just below the eye, and continuing to the right arm
of Y and the border. This bisecting crack forms a small chip
covering the top of the digit 7. Another short crack connects star
13 to the border. Fine hairline cracks join the last four stars on
the right, and an extremely faint branch of the first crack extends
to Liberty's chin. A die crack on the reverse, through TED, and
described by Russell Logan and John McCloskey, is present but
extremely light. In fact, this crack is so faint that it is easy to
miss, even on such a high grade coin.
The surfaces of this Superb Gem example are amazing. The fields on
both sides are fully mirrored with the exception of a small area of
mint frost on each side. On the obverse, this is adjacent to
Liberty's neck and chin, and on the reverse, around the eagle's
head and over the wing on the right. Much like the minor strike
weakness on each side, these areas of mint frost are opposite each
other on the two sides. Because the reverse die is rotated, there
is no easy explanation as to the relative location of these frosty
areas. The balance of the fields on both sides are fully prooflike,
as indicated by NGC. These small areas of mint frost suggest that
the flat surface of the fields on the die did not fully come in
contact with the surface of the planchet, thus one or both dies
must have been sunken slightly in this area. This would suggest
that one of these dies was lightly polished or lapped in this area,
probably to repair minor damage, such as a clash mark. These
details suggest that this is not a specimen or special
strike, as much as we would like to think otherwise. In the 1998
Bowers and Merena catalog, the status of this coin was discussed:
"Probably not a specimen striking, although we realize that such
terms as specimen and Proof are often assigned to
silver coins of the 1790s if they exhibit prooflike
characteristics. Without entering into this controversy, it
certainly is correct to say that the piece is very special in
its superb quality, quite special in overall appearance."
Today, we are certainly not suggesting that this brilliant and
Superb Gem example is anything more than an incredible example of
the 1795 half dime production. Perhaps it is one of the coins from
the hoard mentioned by Walter Breen in his Proof
Encyclopedia. He described a hoard of approximately 100
examples, including some of this die marriage, which was found in
the late 1870s or early 1880s. The Wadsworth-Rea hoard included
some examples that "have vaguely shiny or partly mirrorlike
surfaces." Breen further noted that those coins are "generally weak
in centers, central hair and breast feathers being flat." The
exceptional strike on this example, however, might preclude its
status as one of these hoard coins.Ex: Bowers and Merena (8/1998), lot 82; Jack Lee Collection, III
(Heritage, 11/2005), lot 2057.(Registry
values: P4) (NGC ID# 22ZV, PCGS# 4251)